Streetbeat News

Earnings

TSLA

Tesla Inc (NASDAQ:TSLA) faces a challenge in Q2 with expected lower demand for the Model 3 due to the federal EV tax credit eligibility, favoring the Model Y. The tax credit makes the Model Y cheaper than the Model 3 for eligible customers, potentially impacting Tesla's deliveries. Tesla's first-quarter deliveries declined by 8.5% year-on-year, marking the first drop in quarterly deliveries in four years. Despite this, CEO Elon Musk anticipates higher sales in 2024 compared to 2023.

Portfolio Pulse from Anan Ashraf

April 30, 2024 | 8:40 am

SFBC

Sound Financial Bancorp (NASDAQ:SFBC) reported a significant decrease in Q1 earnings and sales YoY, with EPS down to $0.30 from $0.83 and sales dropping to $8.56M from $10.34M.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 8:37 am

EAF

Institutional Shareholder Services Inc. (ISS) released a report on April 26, 2024, supporting shareholder concerns about GrafTech (EAF), highlighting the company's significant underperformance and destruction of shareholder value since its IPO on April 19, 2018. The report underscores the urgent need for change at GrafTech, citing poor Total Shareholder Return (TSR) compared to peers and relevant indexes over various periods.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 8:25 am

EWG

Germany's GDP growth for Q1 was reported at 0.2% year-over-year, surpassing the estimated 0.1% and improving from the previous -0.3%.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 8:03 am

EWG

Germany's GDP for Q1 shows a contraction of 0.2%, aligning with both the estimates and the previous quarter's performance. This indicates a continued economic slowdown in Germany.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 8:02 am

WKEY

WISeKey International (WKEY) has been granted an extension for its fiscal 2023 annual report publication by SIX Exchange Regulation AG. The company reported preliminary FY 2023 revenue of $31 million, a 30% increase YoY, with a gross profit of $15 million and an unaudited net loss of $15 million, an improvement from the previous year's $29 million loss. This improvement is attributed to the disposal of the loss-making subsidiary, arago GmbH. WISeKey's balance sheet remains stable with a healthy cash position.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 7:51 am

CPAC

Cementos Pacasmayo reported its Q1 earnings per share (EPS) increased to S/0.12 from S/0.10 year-over-year (YoY), while sales slightly decreased to S/476.55 million from S/479.99 million YoY.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 7:21 am

HSBC

HSBC maintains its 2024 financial outlook, targeting a RoTE in the mid-teens and banking NII of at least $41B, with cost growth guidance at approximately 5% and ECL charges around 40bps. The CET1 capital ratio is expected to be managed within 14% to 14.5%, aiming for a 50% dividend payout ratio.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 6:56 am

HSBC

HSBC Holdings reported a decrease in Q1 EPS to $1.70 from $2.60 YoY, while sales increased to $20.75B from $20.17B YoY.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 6:48 am

STLA

Stellantis reported a decrease in Q1 2024 net revenues to €41.7 billion, down 12% from Q1 2023, with consolidated shipments also falling by 10% to 1,335 thousand units. The decline was attributed to volume, mix, and foreign exchange headwinds, though partially offset by strong net pricing. Despite the downturn, sales of BEVs and LEVs rose by 8% and 13%, respectively. The company is preparing for a new product wave in H2 2024, with a total vehicle inventory of 1,393 thousand units as of March 31, 2024. Additionally, a dividend increase to €1.55 per share was approved, and a €3.0 billion share buyback program is on track for completion in 2024.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 6:34 am